Osisko Gold Royalties (NYSE:OR) Shares Gap Up - Time to Buy?

Osisko Gold Royalties Ltd (NYSE:OR - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $23.33, but opened at $24.18. Osisko Gold Royalties shares last traded at $23.63, with a volume of 69,524 shares trading hands.

Wall Street Analysts Forecast Growth

OR has been the topic of several research analyst reports. National Bankshares restated an "outperform" rating on shares of Osisko Gold Royalties in a report on Wednesday. Scotiabank upgraded shares of Osisko Gold Royalties from a "sector perform" rating to a "sector outperform" rating and upped their price objective for the stock from $22.00 to $24.00 in a report on Monday, April 14th. Royal Bank of Canada cut their target price on Osisko Gold Royalties from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Friday, April 4th. Finally, Raymond James reaffirmed an "outperform" rating on shares of Osisko Gold Royalties in a research note on Friday, April 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Osisko Gold Royalties has an average rating of "Moderate Buy" and an average target price of $23.00.

Osisko Gold Royalties Price Performance

The company's 50-day simple moving average is $20.34 and its 200 day simple moving average is $19.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 4.40 and a current ratio of 4.40. The company has a market cap of $4.35 billion, a PE ratio of 258.49 and a beta of 0.88.

Osisko Gold Royalties (NYSE:OR - Get Free Report) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $56.74 million during the quarter, compared to analysts' expectations of $68.31 million. Osisko Gold Royalties had a return on equity of 7.94% and a net margin of 8.50%. On average, sell-side analysts predict that Osisko Gold Royalties Ltd will post 0.62 earnings per share for the current fiscal year.

Osisko Gold Royalties Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.0457 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.79%. Osisko Gold Royalties's payout ratio is currently 200.00%.

Institutional Trading of Osisko Gold Royalties

Institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Osisko Gold Royalties during the 4th quarter worth about $60,364,000. Arrowstreet Capital Limited Partnership increased its stake in Osisko Gold Royalties by 352.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,099,521 shares of the basic materials company's stock valued at $74,160,000 after purchasing an additional 3,194,173 shares during the last quarter. Tidal Investments LLC acquired a new stake in Osisko Gold Royalties during the fourth quarter worth approximately $34,209,000. FMR LLC raised its holdings in Osisko Gold Royalties by 25.2% during the fourth quarter. FMR LLC now owns 5,613,898 shares of the basic materials company's stock worth $101,659,000 after purchasing an additional 1,128,969 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Osisko Gold Royalties during the 4th quarter worth approximately $11,683,000. 68.52% of the stock is owned by hedge funds and other institutional investors.

Osisko Gold Royalties Company Profile

Osisko Gold Royalties Ltd acquires and manages precious metal and other royalties, streams, and other interests in Canada and internationally. It also owns options on offtake; royalty/stream financings; and exclusive rights to participate in future royalty/stream financings on various projects. The company's primary asset is a 3-5% net smelter return royalty on the Canadian Malartic complex located in Canada.